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20121207
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Search Results 0 to 18 of about 19 (some duplicates have been removed)
speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my pancakes. we have just come down from higher levels. the ibex up .2 of a percent. overnight we saw china leadersh
over. bill: reports that talks are stalled, dead in the water. house speaker john boehner says he's flabbergasted by the white house offer. >> this isn't about democrats and republicans. this business our country. we need to get serious about our deficit and debt that are burying our children's future. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. martha: we have brand-new details on the deadly bus crash that happened in florida. police say the bus driver was confused and lost when he chose the wrong route coming out of miami airport. the top of the bus crumpled after the crash and killed two passengers. it had 32 jehovah's church members on board, they were heading to a conference. bill: if you wash watching "fox news sunday" john boehner described his reaction when the president presented
will -- [laughter] stuart: but the big story this hour is john boehner's counteroffer to the president, immediately dismissed by the way. it includes 800 billion dollars in tax revenue, not from higher tax rates. that is the sticking point. president obama wants those tax rates raised. john boehner, he wants fewer deductions, limits on deductions. that's the status quo right now of the discussion there. i want to bring you to the big board because we're going nowhere this tuesday morning on very low volume. back below 13,000. tuesday morning, here's the company: elizabeth macdonald is with us. david asman is with us. and nicole petallides right there on the floor of the new york stock exchange. china, cracking down on money transfers at wynn macau casinos. i guess that wynn stock is going to be down? nicole: you are right. we're seeing the stock down nearly 4% here. this is not good news for them overall. basically china's new leadership cracking down on fast money moving. they are going to set rules where you can't -- restrict the limits on how much money can actually be taken out of the country.
to the white house today, speaker of the house john boehner rejected the president's approach, writing that republicans cannot in good conscience agree to this approach which is neither balanced nor realistic. his counter-offer, save $2.2 trillion by among other things raising $800 billion in new revenues. the plan would also raise the future eligibility age for medicare and alter medicaid to save another $600 billion. the republican plan would not increase tax rates for the wealthy. the president is campaigning for his plan, taking questions on twitter today, and releasing this new web video. >> under my plan, first of all, 98% of folks who make less than $250,000, you wouldn't see your income taxes go up a single dime. all right? because you're the ones who need relief. >> ifill: treasury secretary timothy geithner met with congressional leaders last week and pressed the administration's case in a series of talk show appearances this weekend. >> rates are going to have to go up on the wealthiest americans. those rates are going to have to go up. >> there's no possibility that we're g
off the automatic tax hikes and spending cuts that will kick in next year. john boehner said he can't believe the latest white house proposal. the obama administration insists there's no deal without a tax increase. susan mcginnis is in washington with details this morning. susan, good morning to you. >> reporter: good morning, terrell. it may appear the two sides are nowhere but these talks are expected to pick up dramatically very soon. december is here and as they say here in washington the lawmakers can smell the jet fumes meaning the planes taking them home for their holiday recess. what we're hearing there should be a deal by christmas. the white house is already decorated for the holidays but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with a nearly $3,500 hangover. timothy geithner was on the hill last week to present the president's plan to congress. >> i was fl
. house speaker john boehner led the holiday ceremony and an eagle scout from colorado helped him flip the lights. a beautiful site at the capital. that is your 5@5:00. >>> democrats and republicans are in firm agreement on one thing. they are nowhere near a deal to avoid the so-called fiscal cliff. peter doocy is life in washington with more. >> republicans have had their proposal to avoid the fiscal cliff complete with 800 billion of new revenue over a decade on the table for more than a day now. it has yet to be publicly embraced by the slightest bit by any prominent democrats. because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they say the mast won't work. >>>
're never going to embrace that. >> but john boehner yesterday moved two tea party people off the budget committee. >> he better be careful because he could get fired very easily. >> i saw yesterday on twitter already there was a fire boehner -- >> he almost got fired last year. >> he's been on the bubble for some time now. although, i'm under the impression and reporting has suggested that the relationship between the two camps has gotten better. but clearly if you're eric cantor, why wouldn't you want to be speaker of the house? >> all right. >> all right. you guys are -- were you okay in the green room? nobody separated you two, did they? it was a civil? >> no, we get along. >> in the green room -- >> any bagels in there for you guys? >> no, we don't eat bagels. >> guys on monday got bagels. >> the bagels were there? >> it's all good. >> i judge what we think -- >> i'm jewish, when i walk into a room, i immediately know if there are bagels. >> did you get a tree? >> a holiday tree? >> yeah. >> you do? >> my wife says no, they're too messy. >> the christmas tree is the celebration of s
at 10:00 a.m. and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal cliff. but speaking with reporters in bangkok, he says the
'll eventually yield on raising tax rates on the wealthy, but john boehner is standing firm against those high taxes. >> we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because a small group of governors want to extend tax rates for 2% of americans. no reason why that should happen. >> geithner says republicans will be responsible if no budget deal is reached by the end of the month. boehner says the fight has only begun and he's interested in cutting a deal and not sounding a fiscal alarm. we'll be talking about how the two sides might be able to break the deadlock with a did democratic strategist in the next half hour or so. now, singapore airlines has confirmed it's in talks with interested parties to try to divest its 49% stake in the british airline virgin atlantic. didn't say who the party was, but reporting suggest it could be the u.s. carrier delta air lines. it's been look to go acquire the
. australia, investors shrugged off strong jobs data. sensex gained 0.6% today. >> john boehner and president obama speaking by phone, but no announcement of any upcoming face to face budget talks. earlier the president told the business round table that a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. and in an interview on cnbc, timothy geithner says the gop is making a little bit of practice, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> our obligation is first do no harl. we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be
view what makes sense for the country. >> meantime john boehner says that his party has a plan and he has already offered dozens of alternatives. >> you can cap deductions at a percent of income, that would be one way to get there. could you eliminate certain deductions for those wealthiest in our country. >> joining us on the topic is david walker. he's on his way here right now. >> and in global market news, a lot of talk about china this morning. a final reading of hsbc's manufacturing purchasing manager's survey for china rising in november, first time above the key 50 mark which indicates expanding rather than contraction. it's been since october of last year. also abroad greece announcing it will buy back bonds through a dutch auction. the set up whether allow athenss to assess the level of demand before setting a final bryce for the deal. part of the country's efforts to cut its about a along debt. and in germany, merkel is not ruling out the possibility of notifying greece some of its debt once athens finances are in better shape. angela merkel told a german tabloid that the q
house speaker john boehner because this was his reaction to the plan that jessica just ran us through, the white house's plan here speaker boehner got the plan thursday from treasury secretary tim geithner. here he was. >> flabbergasted. you can't be serious. i've just never seen anything like it. >> flabbergasted, he says. 29 days until this automatic tax increase, until the federal spending cuts that, you know, kick into place that can plunge the economy back into recession. and you have the house speaker saying this white house proposal, the one he received just a matter of days ago, isn't even serious. gloria borger, our chief political analyst, let me bring you in here. one of the questions is does it seem to you that the president feels as though he has some leverage here? he won the election, right? >> he did. >> maybe that accounts for what's in his proposal. >> yeah. this is clearly a different president obama than the one we saw during the debt ceiling negotiations or even after the midterm elections in 2010 when he felt a little weakened and there was the extension of those
the average middle- class family could pay about 200--$2,000 a year more in taxes. house speaker john boehner blanks the spot stalemate on the obama administration. he says they are taken republicans seriously with their plan to close loopholes and deductions without raising taxes. >> we think it would be a wonderful christmas gift for the american people for the middle class a tax cut come january people and we want them to tell the american people why not that they will not do it. we are optimistic. >> the democratic controlled senate has already voted to extend the bush era of cut for incomes that are under $250,000 and led the other is expired. >> moody's analytics predicting there will be a short-term deal reached before the end of the year. we will take a quick break on the kron for morning new we want to go outside and give you a quick look. we will tell you about the power outages i think we have information where you can see the north bay is still dealing with more than 1300 customers without power in the south bay about 1100. in the east bay 940. 700 on the peninsula and roughly 60
the fiscal cliff as if we could. in washington, the capitol hill christmas tree will be lit tonight. john boehner will pull the switch in a hospital of holiday inn duesed n induced nonpartisa. >> that's the look ahead today. we've had a few technical problems with getting our licks up to north america which is why we've had a number of guests stacking up, but i'm assured we're working on them. we will talk about the ski season, as well. before that, let's remind you what the headlines are today. fiscal cliff talks set to drag ons as budget proposal by republicans dismissed by the white house. banking union talks taking central stage in brussels. finance ministers trying to find a deal. and australia central bank has cut interest rates to its lowest level since the financial crisis. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? can i still ship a gift in time for christmas? yeah, sure you can. great. whe
. >> ended up 85 for the day. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive, ci
to house speaker john boehner and senate majority leader, harry reid. >> listen this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. >> i don't understand his brain. so, you should ask him. okay? >> tough words there. abc's jon karl is covering this all from capitol hill. jon, as we said, senate republican leader mitch mcconnell says he laughed out loud at geithner's offer. break down the offer from the white house and the republican objections. >> reporter: not only did he laugh out loud, the speaker saying it's unrealistic. the key is $1.6 trillion in tax increases over the next ten years. $50 billion in additional stimulus spending. $400 billion in medicare cuts. but unspecified over the next ten years. and effectively ending congress' ability to vote on the debt limit. an unlimited ability to borrow more money. republicans may agree to more taxes. but not that much more. and they certainly aren't going to agree to more spending. and they're going to demand real spending cuts. this wouldn't get a single republican vo
Search Results 0 to 18 of about 19 (some duplicates have been removed)

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